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Possible Bearish Inside Day Candle Pattern Detected for Regions Financia (NYSE:RF)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Regions Financia (NYSE:RF) based on the price action in the company's shares. Today's price range of $14.51 and $14.60 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Regions Financia may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Regions Financial Corporation is a regional multi-bank holding company. The Company provides mortgage banking, credit life insurance, leasing, commercial accounts receivable factoring, specialty mortgage financing, and securities brokerage services. Regions provides banking services throughout the South, Midwest, and Eastern United States.

Over the past year, Regions Financia has traded in a range of $7.80 to $16.03 and is now at $14.56, 87% above that low. The 200-day and 50-day moving averages have moved 0.24% lower and 1.51% higher over the past week, respectively.

Potential upside of 3.8% exists for Regions Financia, based on a current level of $14.56 and analysts' average consensus price target of $15.12. Regions Financia shares have support at the 200-day moving average (MA) of $9.06 and additional support at the 50-day MA of $8.36.

SmarTrend is tracking the current trend status for Regions Financia and will alert subscribers who have RF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle regions financia

Ticker(s): RF